Saturday, March 28, 2009

Cuba Libre ?

Faced with an aging population and a life expectancy of 77.3 years Cuba's government has raised the retirement threshold by five years, to 60 for women and 65 for men . About 90 percent of Cubans have government jobs, and now both sexes must work at least 30 years, not 25, to get a full pension. When fully phased in by 2015 it means Cuba's retirement age will exceed Latin America's average of 59 for women and 62 for men .
The government says 3 million people attended town-hall meetings to discuss the potential retirement age increase last year, with 99.1 percent supporting it.

As Cuba's work force shrinks, the ratio of workers to retirees has narrowed from seven-to-one in 1970 to three-to-one today. Had the country not raised its retirement age, the ratio would have been two-to-one by 2025, the government said.

Now just where in this decadent capitalist world of ours have we heard the exact same arguments being made and almost the exact same solutions being implemented , i wonder ?

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